Roundtable Forum: Investing In Gold Companies

PETER F. PALMEDO is President at Sun Valley Gold Company, an investment
advisory firm dedicated to the management of investments in the asset
class of gold, which he founded in 1992. Previously, he was associated
with Morgan Stanley & Co. Mr. Palmedo received his Bachelor's degree in
business and finance from Hampshire College. Mr. Palmedo is married,
has three children, and includes skiing, mountain biking, and family
activities among his personal interests. Profile

GIL ATZMON is a Gold Stock Analyst and leads the US Global Investors
portfolio team responsible for the management of the World Gold and Gold
Shares Funds. Mr. Atzmon, a former portfolio manager at US Global,
rejoined the Company after spending several years as a mining executive.
He also has extensive experience in the financing of junior mining
companies and mining projects. Mr. Atzmon received his Bachelor's
degree in geology and geography from Columbia University and his
Master's degree in energy and mineral resources from the University of
Texas at Austin. VICTOR FLORES is a Senior Analyst-Precious Metals at
HSBC Securities, Inc. Previously, he was associated with Marleau, Lemire
Securities, Inc. and U.S. Global Investors. He earned both his
Bachelor's degree in geological sciences and his M.A. in energy and
mineral resources management from the University of Texas at Austin. A
Chartered Financial Analyst, Mr. Flores is a member of the AIMR and the
Society of Mining Engineers. Profile

FELIX FREEMAN is a Senior Precious Metals Analyst at Scotia Capital
Markets. He earned his Bachelor's degree from the University of Leeds
and his Master's degree from Camborne School of Mines. Profile

BORDEN R. PUTNAM III is a Chief Geologist and Principal of Robertson
Stephens Investment Management. Previously, he was associated with
Mineral Resources Development, Inc., as a vice president of Geology and
Modeling and with Geochemical Services, Inc., as a vice president and
director of Property Evaluations. Mr. Putnam was also senior geologist-
district manager at Newmont Exploration, Ltd., and project geologist,
field geologist at AMAX Exploration, Inc. He earned his Bachelor's
degree in Geology-Geochemistry from the New Mexico School of Mining and
Technology and his M.S. degree in Geology-Geochemistry from the New
Mexico School of Mines. He is a Registered Professional Geologist in
both California and Wyoming, a Fellow of the Society of Economics
Geologists, a member of the SEG International Exchange Lectureship
Committee and a member of the American Association of Petroleum
Geologist. He was also president of the Geologist Society of Nevada-Elko
Chapter in 1990 and editor-Great Basin of the Society of Economic
Geologists Newsletter from 1990-1993. Mr. Putnam is married, has four
children and describes himself as a quasi-professional musician. Profile

TWST: Victor, to what do you attribute the fact that the price of gold

has failed to rise above $300, or sustain a rise anywhere above $300 in